Verona Pharma plc Stock Forecast
Red day on Monday for Verona Pharma plc stock after losing 0%
(Updated on Apr 22, 2024)
No changes to the price of Verona Pharma plc stock on the last trading day (Monday, 22nd Apr 2024). During the last trading day the stock fluctuated 3.75% from a day low at $15.48 to a day high of $16.06. The price has fallen in 7 of the last 10 days and is down by -6.87% for this period.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -10.56% during the next 3 months and, with a 90% probability hold a price between $13.01 and $15.36 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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VRNA Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Verona Pharma plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $15.98 and $16.20. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
Support, Risk & Stop-loss for Verona Pharma plc stock
Verona Pharma plc finds support from accumulated volume at $15.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.580 (3.75%) between high and low. For the last week, the stock has had daily average volatility of 3.77%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VRNA) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Verona Pharma plc to open at $15.75, and during the day (based on 14 day Average True Range), to move between $15.05 and $16.39, which gives a possible trading interval of +/-$0.667 (+/-4.24%) up or down from last closing price. If Verona Pharma plc takes out the full calculated possible swing range there will be an estimated 8.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $15.65 (0.45%) than the resistance at $15.91 (1.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Verona Pharma plc stock A Buy?
Verona Pharma plc holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.897 Sell Candidate Unchanged
Predicted Opening Price for Verona Pharma plc of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $15.75 ( 0.212%) | $15.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VRNA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.33 | 3.90 % | |
| R2 | 16.11 | 2.49 % | ||
| R1 | 15.97 | 1.62 % | ||
| Current price: | 15.72 | |||
| Support | S1 | 15.53 | -1.20 % | |
| S2 | 15.39 | -2.07 % | ||
| S3 | 15.17 | -3.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.96 | 7.89 % | |
| R2 | 16.75 | 6.55 % | ||
| R1 | 15.91 | 1.21 % | ||
| Current price | 15.72 | |||
| Support | S1 | 15.65 | -0.445% | |
| S2 | 15.54 | -1.15% | ||
| S3 | 15.30 | -2.67% |
FAQ
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